Beverly Hills Private Wealth LLC Sells 9 Shares of MercadoLibre, Inc. $MELI

Beverly Hills Private Wealth LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 309 shares of the company’s stock after selling 9 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in MercadoLibre were worth $808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Key Financial Inc bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. Close Asset Management Ltd increased its holdings in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Highline Wealth Partners LLC increased its holdings in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 3.8%

MELI stock opened at $2,102.11 on Tuesday. The stock’s fifty day simple moving average is $2,332.51 and its two-hundred day simple moving average is $2,354.26. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a market cap of $106.57 billion, a P/E ratio of 51.92, a P/E/G ratio of 1.37 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. During the same period in the prior year, the firm posted $10.48 EPS. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on MELI. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a report on Wednesday, October 8th. Cantor Fitzgerald upped their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, Benchmark reiterated a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,810.88.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.